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Monday, October 5, 2026

A $375 million ground lease transformed Washington's Old Post Office into a Waldorf Astoria

  A $375 million ground lease transformed Washington's Old Post Office into a Waldorf Astoria

"...A $375 million transaction changed the identity of Washington, D.C.’s Old Post Office building, moving the property from the Trump International Hotel toward a Waldorf Astoria managed by Hilton. The deal involved Miami-based CGI Merchant Group, founded by Raoul Thomas, who had planned to pay no more than $350 million for the property. ..."

Reference: economictimes.indiatimes.com